Business Type Comparison Table - Bizfilings

[Pages:1]Business Type Comparison Table

This table provides an at-a-glance reference for comparing the most common business entity types.

Sole

General

C

S

Proprietorship Partnership Corporation Corporation

State filing (& filing fee) required for creation

Ongoing state filings and fees

Limited liability protection

Perpetual duration of the business

Strict ongoing corporate formalities

Flexibility in who manages the business

Business taxed at entity level

4

4

4

4

4

4

4

4

4

4

4

Limited Liability Company

4 4 4

maybe

4

maybe

Limited Partnership

Limited Liability Partnership

4

4

4

maybe

4

4 4

maybe

4

Pass-through income/loss

4

4

4

4

4

4

Double taxation

Ease of raising capital

Ease of adding owners/ transferring ownership interest

Sole Proprietorship

4

4

4

maybe

4

4

maybe

maybe

maybe

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